November 24-25, 2020 – Confirmation of Reorganization plan. It is expected that the transaction will close in October. J.C. Penney announced Wednesday it had started its going-out-of-business sales at the 136 stores it is closing, including four in Oregon.. Four stores in … 4. These locations are set to close in the next 10 weeks to 16 weeks. Posted: Jun 17, 2020 / 05:54 PM EDT / Updated: Jun 17, 2020 / 05:59 PM EDT (WIVB)–JC Penney is starting … ... Great American Group and Tiger Group are working on the closing sales, Penney added. “With this closing, our operating company has exited Chapter 11 and is continuing under new ownership and the JCPenney banner.” JCPenney now has access to … 3. The retailer began a store closing sale at Destiny USA in June, with up to 40% off original prices. December ?, 2020 – JCPenney exits chapter 11. JCPenney closing sale begins National. An empty parking lot is shown at a closed JC Penney store in Roseville, Mich., May 8, 2020. 2. The JCPenney closings for 2020 have the company adding 154 stores to the list. JC Penney plans to file a store closing procedure motion on June 4, for a hearing set to take place on June 11, at which point some sales will begin, … JC Penney has announced its schedule for clearance sales at its locations set for closure. The chain is closing more than 150 stores as part of its ongoing bankruptcy proceedings. J.C. Penney Co. will exit Chapter 11 in early- to mid-2021, after filing for bankruptcy protection in May, due to effects of the Covid-19 pandemic. Sussberg said that after paying certain obligations, JCPenney should have about $1 Billion at the close. J. C. Penney Company Inc. is set to begin liquidation sales at certain closing outposts within the coming weeks, an attorney for the retailer said on Thursday in a virtual court status update. JC Penney is closing 154 stores in the first phase of its Chapter 11 bankruptcy restructuring. 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